Child Voluntary Life Insurance
Life Insurance for Your Child(ren)
Effective January 1, 2010, faculty and staff enrolled in the Supplemental Life Insurance Plan can elect to participate in our Child Voluntary Life Insurance Plan. You can choose to cover eligible dependent children at $5,000 or $10,000 in child life insurance. Children are eligible for coverage through the end of the year in which they obtain age 26.
The cost is $0.080/$1,000 per month, or $.80/month for $10,000 or $.40/month for $5,000, per family unit.
You must cover all children for the same amount of life insurance — either $5,000 or $10,000. For example, if you have three children and you elect $10,000 of coverage, your monthly cost is $.80 for all three children.
If both parents are employees of Princeton University and eligible for benefits, only one parent may cover the child(ren). If, at the time of a claim, duplicate coverage existed, Prudential would pay only one benefit.
More information about what happens to your life insurance coverage when you retire or terminate is available on our website.
While the University intends to continue each of the benefit plans, the University reserves the right to terminate or amend any plan, at any time, and for any reason.